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$2.25m for Metropol and Grup As
The auto insurers bureau in Romania (BAAR) has finished paying off the $2.25 million overdue debts that Metropol and Grup As held to the Green Card Bureaux abroad. The two companies had sold...
Distrigaz employees queuing for shares
The employees of the two natural gas distribution companies, Distrigaz Sud and Distrigaz Nord will be allowed to hold up to 10% in the two companies, as part of the privatisation process sch...
RWE and Union Fenosa vying for Electrica Muntenia Sud
The Office for State's Interests and Industrial Privatisation (OPSPI) has received four letters of intent for the sale of Electrica's Muntenia Sud branch, with RWE and Union Fenosa among the...
$100m of Oltchim debts swapped for equity
Petrochemical plant Oltchim Ramnicu Valcea started operations and debt restructuring procedures in view of privatisation. The company has called an Extraordinary General Meeting of the Share...
Labour Code: administrative labyrinth and a new nightmare for employers
The Government yesterday decided to take responsibility in Parliament for the new Labour Code. Negotiations with trade unions and the patronages were completed yesterday, which means the aut...
Third time a charm for BCR?
Banca Comerciala Romana (Romanian Commercial Bank - BCR), the crown jewel, has attracted no buyers. Not even on the second call. The failure had been largely anticipated even before the seco...
Inflation tax for capital gains
The manner of calculating the capital gains for initial investments made in foreign currency, the calculation and payment of the capital gain tax, the profit tax payment obligations and what...
RCA campaign waiting for the go-ahead
"We've heard there is a company that will spend more than half a million dollars. We'll try to 'storm' the market this year, too. We have almost 50,000 dollars prepared for advertising." Mug...
New law for majority and minority shareholders
The Government, advised by the National Securities Commission (CNVM), has decided to modify for the second time the new capital market legislation enacted this April. The Government did not...